U.S. Baker Hughes Oil Rig Count +1 To 482 Vs 481 Prior
Portfolio Pulse from Benzinga Newsdesk
The U.S. Baker Hughes Oil Rig Count increased by 1, reaching a total of 482 rigs, compared to 481 previously.
October 18, 2024 | 5:06 pm
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The increase in the U.S. Baker Hughes Oil Rig Count to 482 may indicate a slight increase in oil production, potentially affecting oil prices and the United States Oil Fund (USO).
The increase in oil rigs suggests a potential rise in oil production, which could influence oil prices. However, the change is minimal, so the immediate impact on USO is likely neutral.
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